As Foxconn’s iPhone manufacturing facility nears completion in Devanahalli, Bengaluru, the surrounding real estate market is experiencing an unprecedented boom. Backed by Apple’s India manufacturing ambitions and large-scale infrastructure projects, this northern Bengaluru suburb is emerging as a magnet for investors, developers, and homebuyers alike.
With Apple CEO Tim Cook confirming that a major share of iPhones sold in the U.S. will soon be ‘Made in India,’ the ripple effect on land prices, residential rentals, and property development in Devanahalli has been nothing short of transformative.
🔧 The Foxconn Effect on Devanahalli Real Estate
iPhone Production to Begin in June
Foxconn’s 300-acre campus in Devanahalli is poised to be India’s largest electronics manufacturing hub, with the capacity to house 30,000 workers in on-site dormitories. This has intensified residential and commercial property demand in nearby zones.
Karnataka Industries Minister M.B. Patil announced,
“Apple CEO Tim Cook has confirmed that, in the June quarter, most iPhones sold in the United States will be manufactured in India.”
📈 Soaring Land Prices
Real estate experts confirm that Foxconn’s arrival has led to a 30–35% increase in property prices in just the past year.
Ashish Sharma, City Head – Bengaluru, ANAROCK Group, said:
“There has been significant land price appreciation in Devanahalli. Since Foxconn’s entry, property rates have surged by at least 30–35%.”
Marketing strategies are also evolving rapidly.
Manjesh Rao, Chief Real Estate Officer at BrokerinBlue, noted:
“Developers are increasingly using phrases like ‘just 10 minutes from Foxconn’ to market their projects.”
🌐 Infrastructure: The Growth Catalyst
Devanahalli benefits from:
- Proximity to Kempegowda International Airport
- Access to Satellite Town Ring Road (STRR)
- Upcoming Namma Metro Phase 2
- Presence of SEZs and BIAL IT Investment Region
According to ANAROCK, land prices have:
- Increased 30–40% in the past year
- Doubled over three years
- Surged by 150–175% over five years
📊 Summary Table – Devanahalli Real Estate Highlights
| Parameter | 2022 | 2024 |
|---|---|---|
| Average Land Price | ₹2,200–2,500/sq. ft. | ₹7,500–8,000/sq. ft. |
| Entry-Level 2BHK Rent | ₹12,000–13,000 | ₹25,000 |
| Entry-Level Villa Price | ₹2.5–3 Cr | ₹5 Cr |
| Share of New Launches (North BLR) | 23% | 31% |
| Rental Yield | 1%–3% | 1%–3% |
🏘️ Plotted & Luxury Developments: The Dominant Theme
- Plots on STRR: ₹5,500–₹8,000/sq. ft.; appreciating at 20%–28% annually
- Luxury Villas on IVC Road: Starting at ₹5 Cr; White Lotus and Sobha Oakshire among premium offerings
- Apartments:
- 2BHK starts at ₹80 lakh
- 3BHK goes up to ₹2 Cr in premium projects
“A villa in Brigade Orchards priced at ₹3 crore last year is now valued at ₹5 crore,”
said Kiran Kumar, VP at Hanu Reddy Realty.
📊 Rental Market Growth
- 2BHK rentals: ₹25,000 in gated communities
- Villas: ₹1.5 lakh to ₹2.5 lakh/month, often rented by CXOs and expats
- Rent inflation in Devanahalli: 30% YoY (vs. 10% city average)
🚧 Challenges & Upcoming Amenities
- Height Restrictions: Due to proximity to the airport, max height = 7 floors
- Healthcare Gap: Limited multi-speciality hospitals (being addressed in new townships)
- Education: Well-supported with top institutions like GITAM, Amity, Harrow International, Chanakya University
❓FAQ – Foxconn and Devanahalli Real Estate
Q1. Why is Devanahalli seeing such rapid real estate growth?
A1. Foxconn’s iPhone plant, proximity to the airport, and infrastructure developments like STRR and Metro are key growth drivers.
Q2. What are current land prices in Devanahalli?
A2. ₹5,500–₹8,000 per sq. ft., depending on location and project grade.
Q3. Are villas or apartments more common in Devanahalli?
A3. Due to height restrictions, plotted and villa developments dominate over high-rise apartments.
Q4. How have rentals changed recently?
A4. Rentals for 2BHK units have doubled in a year; premium villas fetch ₹1.5–2.5 lakh/month.
Q5. What’s the long-term outlook for investors?
A5. With ongoing infrastructure, job growth, and limited inventory, Devanahalli offers strong capital appreciation and rental potential.